DavidR.

Pivot Boss 4 EMA

2897 1 937
Summary:
Creates one indicator with four exponential moving averages based off the central pivot point
which assists you in trading pure price action using floor pivots .
This also helps you to avoid getting chopped up during price confluence.

How to use:
When T-Line cross Green Short EMA it can be used for scalping.
When Short EMA pulls back to Medium EMA you can buy more or sell more
without having to exit your position prematurely before trend direction changes.
This can also be used as position entry points to make sure you are getting the best possible price.
When T-Line, Short EMA and Medium EMA cross over Long EMA you go long or short.
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// Pivot Boss is based on the work of Frank Ochoa @ www.pivotboss.com
// Converted to Pinescript from Easy Language by DavidR.


// Summary:
// Creates one indicator with three exponential moving averages based off the central pivot point
// which assists you in trading pure price action using floor pivots.
// This also helps you to avoid getting chopped up during price confluence.

// Parameters:
// ShortEMA – Number of periods used to calculate the short term moving average.
// MedEMA   – Number of periods used to calculate the medium term moving average.
// LongEMA  – Number of periods used to calculate the long term moving average. 

// How to use:
// When T-Line cross Green Short EMA it can be used for scalping.
// When Short EMA pulls back to Medium EMA you can buy more or sell more depending on 
// without having to exit your position prematurely before trend direction changes.
// This can also be used as position entry points to make sure you are getting the best possible price.
// When T-Line, Short EMA and Medium EMA cross over Long EMA you go long or short.


study(title="Pivot Boss 4 EMA", shorttitle="Pivot Boss 4 EMA", overlay=true)
src = close

TLineEMA = input(8, minval=1, title="Trigger Line")
ShortEMA = input(13, minval=1, title="Short EMA")
MedEMA   = input(34, minval=1, title="Medium EMA")
LongEMA  = input(55, minval=1, title="Long EMA")

fPivot = ((high + low + close)/3)

TLine       = ema(close, TLineEMA)
fShortEMA   = ema(fPivot, ShortEMA)
fMedEMA     = ema(fPivot, MedEMA)
fLongEMA    = ema(fPivot, LongEMA)

plot(TLine, color=yellow, title="T-Line EMA", linewidth=2)
plot(fShortEMA, color=green, title="Short EMA", linewidth=2)
plot(fMedEMA, color=gray, title="Medium EMA", linewidth=2)
plot(fLongEMA, color=maroon, title="Long EMA", linewidth=2)
I added the T-Line (Trigger Line) EMA based on the Candlestick work by Stephen Bigalow.
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